I Understand Your Desire to Sell By Owner
For some, hiring a RealtorŪ isn't an option. We'd all rather not pay a commission. But for some homeowners who've purchased within a few years and now are attempting to sell, they find that there's not enough equity in their home to sell, pay a commission, closing costs and move on to their next home with a down payment.

Statistics show that those who sell by owner sell on average of 9.5% less than fair market value. These sales affect the value of my client's homes as well as my own. I personally want to ensure that sellers are educated in the market values and sell successfully, assuring appreciation for this area. That's why I've designed this informative site to empower you and help guide you toward your own successful sale.

PLEASE READ SAFETY TIPS

How to Get Started

1. Find out what your home is worth by filling out a brief form. The more accurate your data, the more precise your evaluation will be. It's wise to briefly visit your home and see the updates, location, material etc. that will affect your value.
    

2. Call me to discuss all of your options. Past client testimonials show that I'm committed to answering all of your questions fairly and honestly. If there's a better way, I will find it and do all I can to help you.
    

3. Once you've seen the comparables including the time on the market and the sales price, we'll sit down and talk about your goals for your sale including timeframe and price. I'll offer suggestions that cost little or nothing to showcase your home and help it to stand out above over 800 neighboring home listings.
    

4. Sit down with a calendar. You can use the market time information I've provided to help you gain a better idea of how long this might take. Be realistic and remember that your marketing will capture a substantially lesser amount of prospective buyers than professional marketing will. If you need to sell by a specific date, target that date and things that must be done to get your goal met.
    

5. Choose a date when you'll need to hire a RealtorŪ. You're going to make every effort yourself to reach your goal. However, if you're not seeing the results you anticipated and you need a professional, target a date and know at what point you'll need to take this action.
    

6. Complete the mandatory Ohio Residential Property Disclosure Form and Lead Based Paint Disclosure Form prior to marketing or showing your home.
    

7. Prepare your marketing brochures and ad descriptions. Call your local publishers and get your ads started immediately. Be careful and budget this expense wisely, as the costs add up quickly. Keep in mind resources your buyers might turn to.
   Tip: Never say "new" and avoid saying "newer". Just include the year. For instance, "Furnace '02". This avoids future litigation when your buyer insists that you were offering a brand new furnace with the sale.
    

8. Know at least three available methods for buyers to finance the purchase of your home. Assumable loan, seller financing, variable rate loan, adjustable rate loan and fixed rate loan are some examples. Buyers want to know the total cash down payment, including closing costs, as well as the monthly payment amount.
    

9. Know the current interest rates and points on fixed and adjustable rate loans. These are available on Fridays.
    

10. Consider having an appraisal done on your home to determine the current value. Buyers typically offer less than you are asking because they know a savings of the commission is often built into the price. You are trying to save the commission and so are they. You need to know the fair market value of your home.
     

11. Call all of your friends and family members, tell all your co-workers and post photos and descriptions of your home everywhere you can think of. In truth, this has a better chance of bringing interested buyers than ads in papers since you won't be placing photos in them and many of these readers are "shoppers", not "buyers".
     

12. Hold an open house at least one day every weekend until it's sold. Hold them during common open house times such as Saturday and/or Sunday between 11:30 and 5.
    See Open House Tips.
     

13. Have a blank contract and your completed disclosure forms ready. Know what Real Estate Attorney to call to review your contract, have a title and escrow company readied and have a lender you can double check with to ensure your buyer is capable of purchasing this home at this time. Your buyer needs to not only qualify financially for a loan, but as of this year most insurance companies are doing credit checks before issuing a homeowner's policy. Without this, loans fall through at the last minute.
     

14. Be prepared to show comparable homes sales from sales within the past 6 months with the same number of bedrooms, square footage, design, age and features as yours.
     

15. Speak clearly, don't assume and get everything in writing. Do not make verbal negotiations and avoid agreeing to requests and answering questions that will put you in a poor negotiating position, or worse - future litigation.
     

16. Schedule all of the logistics of the transaction and follow up daily to ensure everything is going smoothly. Target dates need to be reached to avoid breeching the contract on either end.
     

17. Continue to hold open houses and market your home until title transfers. Many FSBOs take homes off the market once an agreement has been reached. Allow backup offers and consult with your attorney regarding your obligations to each party.

Questions to Consider
FSBO Friend How To
Open House Register
Safety Tips
Open House Tips
Legal Issues
Statistics
Misconceptions